Night owl here, with ice on its back !
Just quite big news for me that I wanted to share with you all. My back in daily range trade hit its 1st TP at 1395 on the probable high of the range and had its 2nd TP at the next volatility reversal setup BUT now that 2nd is cancelled because I've got a first daily counter-trend trade since the beginning of the downtrend, and could now become a weekly one as early as tomorrow if we get a miraculous weekly close above 1463 and if next week follows beyond its high.
What does that mean for me :
I am now in "Moving SL at BE instead of tp" and buying only mode, for all setups except scalps(<7pips).
Relying on 8H to Monthly chart only for TPs and stops, yes even for intraday trades. If works out, will be for at least the whole of February and give me a lot more free time as I don't have to deal with intraday levels for SLs and TPs. I hope so much that it will work, as I have some projects I have been wanting to work on but am always putting them back at the bottom of my list, and this really could open doors and perhaps get my non-trade-related will power out again. Wish me luck !
Just got my first set up .1436 SL 15pips, at BE at .1465
P.S for those that are interested in this approach, see
Just quite big news for me that I wanted to share with you all. My back in daily range trade hit its 1st TP at 1395 on the probable high of the range and had its 2nd TP at the next volatility reversal setup BUT now that 2nd is cancelled because I've got a first daily counter-trend trade since the beginning of the downtrend, and could now become a weekly one as early as tomorrow if we get a miraculous weekly close above 1463 and if next week follows beyond its high.
What does that mean for me :
I am now in "Moving SL at BE instead of tp" and buying only mode, for all setups except scalps(<7pips).
Relying on 8H to Monthly chart only for TPs and stops, yes even for intraday trades. If works out, will be for at least the whole of February and give me a lot more free time as I don't have to deal with intraday levels for SLs and TPs. I hope so much that it will work, as I have some projects I have been wanting to work on but am always putting them back at the bottom of my list, and this really could open doors and perhaps get my non-trade-related will power out again. Wish me luck !
Just got my first set up .1436 SL 15pips, at BE at .1465
P.S for those that are interested in this approach, see
If I don't mention SL and/or TP = longer-term setup possibly in the works!
3